Silver jumped to the highest in nearly four weeks and sharply outperformed other precious metals ahead of tomorrow’s highly anticipated inflation figures from the US which are expected to show price pressures eased again. While FED members emphasized that interest rates will remain elevated for a prolonged time, a second straight month of lower than expected price growth could lower demand for the US dollar and further support risky assets. Investors also welcomed news that Ukrainian forces retook some key areas in the Kharkiv region.
Silver jumped over 5.0% during today’ s session and if current sentiment prevails price may test the psychological resistance at $20.0 per ounce. On the other hand, should market sentiment deteriorate, another downward impulse towards support at $18.70 may be launched. Source: xStation5
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